FINANCIAL ICEBERG
Always consider hidden risks
 TECHNICALS
Some Cracks Appearing in US Stock Market Indices
 August 13  2017 ​( From TradingView , CNN, Stockcharts)
If you would like to receive our free daily markets updates, please Sign-Up



​ ​In these Fear times (good to know that​​ the Fear and Greed Index ​from
​CNN Money is coming from the Greed Zone just one month ago to ​the ​
​Fear Level now at 28). It is interesting to look the ​behavior ​of the main
​Stock Market Indices inside technicalities.

​​​Few of us realize that the SP500 index (SPY ETF) started a Bullish Trend
just before the US Election; bottoming out on November 4 2016 ​(close at 208.55) to make a Breakout on November 25 2016 (from a Major Resistance Trendline that started back on May 20 2015)​ ​(See first chart below - Lowest Thick Yellow Trendline) to reach a closing price of 244.12 on August 11 2017 (high ever was 248.91 reached on August 8 2017). So the SP500 Index (SPY ETF) is up +17.1% since November 4 (excluding dividends). 
The SPY ETF is now evolving within a Daily Rising Wedge Technical Pattern and testing the Support Trendline. (See First Chart Below - Red Trendlines).

​​We will for three ETFs, show those technical indicators for each of them (all daily charts):
PVT: Price Volume Trend​  OBV: On Balance Volume​  ADV: Advance Decline Line​

​​SPY ETF: (SP500 Index - See Second Chart Below) Index Price peaked on August 7; Closed below the 50 DMA
PVT: Unable to make a new high since March 1 so huge divergence with the Index​ 
OBV: Peaked on March 15 (ellipse) and fading tremendously compare to the new high in SPY ETF on August 8
ADV: ​​Broke its rising support trendline on August 7 (blue line)

QQQ ETF: (Nasdaq100 Index - See Third Chart Below) Index Price peaked on July 26; Testing its 50 DMA
PVT: ​Since peaking on June 7, it fell to the lowest zone reached in February 2016 (Bottom blue line)
​OBV: Since peaking on June 8, in a slow bleed pattern​​
ADV: Broke its rising support trendline on August 7 (blue line)

​​TWOK ETF: (Russell2000 Index - See Fourth Chart Below) Index Price peaked on July 25; Testing its 200 DMA
Broke a daily Major Support Trendline that started back since February 11 2016​

PVT: Since reaching the previous high post election (December 8 ), unable to gain strength and in divergence with the Index
OBV: ​Same pattern here; peaked on December 8 and unable to get over that level again
ADV: Broke its rising support trendline on August 7 (blue line)

​​Quite interesting to note that major technical divergences for those three ETFs did not confirm the last new highs in the Indices. As the most hated bull market in history continue its long stretch, it remains a very atypical market as momentum seems more important that value investing. As geo-political risks is on the rise, market behavior is still on the complacency side...​​​​As the retail investor are chasing aggressively that rally into more Big Cap technology stocks, the market becomes more vulnerable when/IF we will have a correction.




Some Cracks Appearing in US Stock Market Indices  $SPY, $SPX,  USDX #Trading #dxy  #usdollar #SP500 #spy 



Financialiceberg.com
​Russell2000 Index ( SPY ETF - Daily Candles )
PVT (Price Volume Trend - Grey - Second Panel)
OBV ​​(On Balance Volume - Green - Third Panel)
ADL ( Advance Decline Line - Yellow - Fourth Panel)​

Financialiceberg.com
SP500 Index ( SPY ETF - Daily Candles )
20 DMA ( Yellow Line ) 
​50 DMA ( Red Line )​
200 DMA ( Green Line )​​
​SP500 Index ( SPY ETF - Daily Candles )
PVT (Price Volume Trend - Grey - Second Panel)
OBV ​​(On Balance Volume -  Green - Third Panel)
ADL ( Advance Decline Line - Yellow - Fourth Panel)​

​Nasdaq100 Index ( QQQ ETF - Daily Candles )
PVT (Price Volume Trend - Grey - Second Panel)
OBV ​​(On Balance Volume - Green - Third Panel)
ADL ( Advance Decline Line - Yellow - Fourth Panel)​

Financialiceberg.com
Financialiceberg.com
Financialiceberg.com